Norms on taxation of electronic commerce are introduced in the legislation of Kyrgyzstan. Press service of the Government Office reported.
The bill was prepared in order to regulate public relations between government agencies, individuals and legal entities in the field of e-commerce. The document provides for establishment of requirements for electronic transactions for the sale, purchase and exchange of goods, services, including exclusive rights to intellectual property.
The innovation provides for the introduction of amendments to the tax, civil, criminal codes, as well as a number of other regulatory legal acts.
The project on Amendments to Certain Legislative Acts of the Kyrgyz Republic in the Sphere of Electronic Commerce was initiated by the deputies of the 6th convocation of the Parliament of Kyrgyzstan together with the government to create a legal basis for taxation of electronic goods, works and services, including in order to implement Google tax.
The proposed changes in terms of taxation imply the use of new concepts such as «digital financial asset», «sale of a digital financial asset», «electronic service». In the future, this will help to determine what a property in electronic form is, as well as works and services in electronic form.
It is proposed to supplement the Tax Code with a new chapter «Tax on activities in the field of electronic commerce», where the tax rate is set at 2 percent. This will allow taxing electronic goods, works and services provided by foreign legal entities on the territory of Kyrgyzstan, regardless of their official presence in the country, such as Google, Facebook or Instagram.
